Hureka Top 10
A compilation of articles that will Inform, Educate and Inspire Your Digital Marketing Success
Digital Marketing Strategy
To obtain the best results from marketing techniques and apply them to your online positioning strategy there’s nothing better than reviewing concepts and studying the most prominent authors of that area. It’s no doubt that Philip Kotler is one of them! He is considered the “Father of Modern Marketing”, and provides us with important lessons that can be applied to your digital strategy.
Over recent decades there has been an amazing proliferation of product choices in just about every category. It is estimated that there are 1,000,000 SKU’s (Standard Stocking Units) out there in America. An average supermarket has 40,000 SKU’s. Now for the stunner: An average family gets 80% to 85% of their needs from 150 SKU’s. That means there's a good chance they'll ignore 39,850 items in that store. With the enormous competition, markets today are driven by choice. The customer has so many good alternatives that you pay dearly for your mistakes. Your competitors get your business, and you don't get it back very easily. Companies that don't understand this will not survive.
Data - The Success Factor
Today, around 4.7 billion people use the Internet and 4.2 billion are on social media. An incredible 2.5 quintillion bytes of data is being created every day in 2021 (a quintillion is a million times a trillion, or a 1 with 18 zeros behind it) and that volume of data is expected to double every two years. It equates to a lot of potential marketing data and consumer insights for marketers. Providing, of course, data science can sort the wheat from the chaff and an analytics expert can determine what’s useful for particular marketing strategies. There’s a difference between big data and useful data, and top-quality data science can make big data very ‘useful’ indeed for marketing purposes.
Data-driven marketing is the ability to analyze your existing data, understand what’s missing, how to segment it and apply it to your marketing campaigns. This may sound simple enough, but the process of analyzing marketing data can be a daunting task for those who don’t have a grasp on the data collection, maintenance, and aggregation processes. Ultimately, the goal of data-driven marketing is to identify important trends within your campaigns and customer base in an effort to cater to customer and prospect preferences.
Digital Marketing Execution
Establishing an online social presence can help you attract new customers, promote your content, connect with your customers and engage in meaningful conversations across platforms like Facebook, Instagram, Linkedin, TikTok, Twitter, Reddit & Pinterest. With over a billion monthly active users, Instagram is an industry leader in terms of social media platforms. But using social media for marketing your business isn’t as easy as it was back in 2008. The landscape has changed, and there are rules, strategies, and tactics that you need to achieve your business objectives using social media.
One of the most popular platforms for customer reviews is Google. Google is the world’s most popular search engine. And if you have a physical store or location, people have the chance to read previous customer reviews on Google Maps when they’re getting directions to your place. It’s important to make sure your Google reviews are representing your company in a good light.
Dr.Mark Jeffery believes that the key to a company’s success is using data-driven marketing. The author advises not to try to use all marketing metrics in your work since there are a large number of them. Measurements help improve marketing results because they clearly show what works and what doesn’t. In his book, he identifies 15 main marketing metrics: 10 of them are classical, and five are related to Internet Marketing.
Data and analytics tools are key to helping brands rapidly identify the right audiences and their intent, deliver relevant messages and refine tactics. But marketing organizations face challenges along the way, according to Matt Gay, head of advertising and marketing solutions at Accenture. “Siloed organizations, disparate and disaggregated data sources, and lack of tool optimization are keeping them from changing strategy and plans,” he says. To achieve their own data-driven transformations, marketers need a road map that includes three key initiatives: moving toward a unified view of customer data, fostering collaboration and connection between disparate groups, and assembling teams with the analytics skills to mine actionable insights.
Companies of all stripes have invested heavily in tools and technologies to help them understand their customers more deeply and to gain the advantages of superior customer experience (CX). Yet as leaders strive to form a more complete picture of customer preferences and behaviors, they continue to rely on aging survey-based measurement systems that for decades have formed the backbone of CX efforts. Companies use these systems to track CX performance through brand or relationship surveys, “close the loop” on customer feedback via post-transaction surveys, and even plot strategic moves by attempting to mine the feedback from their regular surveys over time. Entire teams dedicate themselves to managing questionnaires and boosting response rates—and the resulting metrics can shape everything from employee bonuses and executive compensation to strategic investment decisions.
Online marketing has one large advantage over its offline counterpart: tracking. The development of modern software tools has allowed marketers to track almost anything online. For example, Google AdWords provides you with the exact number of impressions your ads get, the demographics of your audience, and the specific amount of money each ad generates. Campaign Monitor, on the other hand, shows you the open rates, click-through rates, and the number of clicks each link on your email gets, among other metrics. The sophistication from which technology companies deliver their data helps marketers understand what works and what doesn’t. This allows companies to get a deep understanding of the results they’re getting for what they spend on each channel, as well as improving the customer experience once people are on their site.
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